topic FICO Score After Chapter 7 BK Removal in Bankruptcy

FICO Score After Chapter 7 BK Removal

CWESTL — Sun, 02 Apr 2023 23:28:18 GMT

Now that all of my CR's are clear of the Chapter 7 BK I filed in May 2013, I thought I'd summarize the FICO score increases that resulted.

TU (early exclusion removal in December 2022; 6 months early) - 47 point increase (741 to 788)

EX (early exclusion removal in February 2023; 3 months early) - 52 point increase (745 to 797)

EQ (naturally removed in April 2023; 1 1/2 months early) - 65 point increase (738 to 803)

My experience would suggest a 50+/- point FICO score increase when a Chapter 7 BK is removed. The range is likely due to several factors inclusive of frequent changes in reported account balances, inquires, age of accounts, etc. that may also be updated at the same time as the removal of the BK.

Re: FICO Score After Chapter 7 BK Removal

JoeRockhead — Mon, 03 Apr 2023 00:45:10 GMT

Very nice, congratulations on being completely free and clear!

Re: FICO Score After Chapter 7 BK Removal

Zoostation1 — Mon, 03 Apr 2023 04:38:09 GMT

Congrats on having clean reports! I've got 4yrs and change to go still.

Re: FICO Score After Chapter 7 BK Removal

TRC_WA — Mon, 03 Apr 2023 16:11:44 GMT

Congrats... if I see similar results when my 13 falls off in the coming months (1st is TU in July) I should be in the 720-730 range and possibly higher with lower UTI.

Re: FICO Score After Chapter 7 BK Removal

michaels88369 — Tue, 09 May 2023 01:14:24 GMT

Does it go by file date or discharge date? I filed CH7 05/2015 and discharged 07/2015.
Thanks and congrats on your increases!

Re: FICO Score After Chapter 7 BK Removal

Jeffster1 — Tue, 09 May 2023 01:23:10 GMT

@michaels88369 wrote:
Does it go by file date or discharge date? I filed CH7 05/2015 and discharged 07/2015.
Thanks and congrats on your increases!

File date.

Re: FICO Score After Chapter 7 BK Removal

pizza1 — Thu, 11 May 2023 01:10:22 GMT

I would also add that the 50+ point increase is not going to happen for everyone. There are still tons of variables once the BK is gone, and you will then be "re-bucketed" into a clean file, and then compared to those in that bucket similar to your current credit profile makeup.

Re: FICO Score After Chapter 7 BK Removal

FireMedic1 — Thu, 11 May 2023 11:02:57 GMT

Congrats on the free and clear file. Counting my days now. Couple yrs left

Re: FICO Score After Chapter 7 BK Removal

collics — Thu, 11 May 2023 13:54:13 GMT

Congrats! I'm down to months finally and not years. Can't wait for it just to be gone from my reports.

Re: FICO Score After Chapter 7 BK Removal

ceejay78 — Thu, 11 May 2023 14:02:44 GMT

Congrats!

BK removed from TU by an EE -- and we actually have the same fico 8 score

Patiently waiting for EX and EQ -- no other baddies except for the BK reporting.

Re: FICO Score After Chapter 7 BK Removal

CH-7-Mission-Accomplished — Fri, 12 May 2023 01:16:07 GMT

@CWESTL wrote:
Now that all of my CR's are clear of the Chapter 7 BK I filed in May 2013, I thought I'd summarize the FICO score increases that resulted.

TU (early exclusion removal in December 2022; 6 months early) - 47 point increase (741 to 788)
EX (early exclusion removal in February 2023; 3 months early) - 52 point increase (745 to 797)
EQ (naturally removed in April 2023; 1 1/2 months early) - 65 point increase (738 to 803)

My experience would suggest a 50+/- point FICO score increase when a Chapter 7 BK is removed. The range is likely due to several factors inclusive of frequent changes in reported account balances, inquires, age of accounts, etc. that may also be updated at the same time as the removal of the BK.

With EX, did you call in for the EE? I'm three months from my Ch 7 filing date this Sunday. Do you have to call EX and ask for a supervisor?

I got EE on TU almost a year ago (14 months early) and tried to dispute last month with EX, but it came back as "verified by PACER." My TU 8/9 have been sitting at 850 for a while now so I'm hoping I will hit 850 on the other two. EQ 9 has been at 843 forever and that's with the BK 7 still reporting. EX & EQ 8s are around 780.